6405 N 169 St

Omaha, NE 68116

$413,700D-

4 bd · 2.5 ba · 2,153 sqft · Built 2026 · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,788/mo
• Mortgage (P&I): −$2,169
• Tax + insurance: −$250
• HOA: −$10
• Vac / Maint / Mgmt: −$586
• Net cashflow: $-227/mo
• Annual: $-2,723/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.35%
• DSCR: 0.90
• 1% rule: 0.67%
• Cash to close: $115,836

Investor read

• This is a 4-bed/2.5-bath other listed at $414k.
• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $374k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (32.6% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $279k (32.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#7 in NE, #663 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Bennington Public Schools (rural): math 67% / reading 67% proficiency, ranked #3 of 111 in NE (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Anchor Pointe Elementary (math 65% / reading 71%, grade B+, #63 of 502 statewide, top 12%, 475 students, 8% FRL); Bennington Middle School (math 64% / reading 63%, grade B+, #13 of 128 statewide, top 10%, 410 students, 19% FRL); Bennington High School (math 66% / reading 70%, grade B, #21 of 261 statewide, top 8%, 1,002 students, 14% FRL).
• Market conditions: Rents rising (+2.5%/yr); 173 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,539 units permitted in Douglas County in 2024 (2,583 in 5+ unit buildings).
• Douglas County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.6% vs local median 3.6% in Omaha — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.